T. Rowe Price - Couldn't leave fast enough | Glassdoor
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There are newer employer reviews for T. Rowe Price

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Helpful (3)

"Couldn't leave fast enough"

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Investment Specialist
Former Employee - Investment Specialist
Doesn't Recommend
Negative Outlook
No opinion of CEO

I worked at T. Rowe Price full-time (More than 3 years)

Pros

Co-workers, You learn a lot about personal finance

Cons

Working in a call center is hard no matter where you are but the environment that this company has created has contributed to more than 20% of the Sales department leaving in the last 6 months. You are over worked and under valued. The micro management is so extreme I've heard someone coached to sit up straighter. You clock in and clock out and every single minute of your day is monitored. There is NO work/life balance. You will have to work weekends and don't even think about getting time off unless you ask 2/3 months in advance. I worked there through 3 holiday seasons and never once got off Christmas Eve or Black Friday off through their "lottery" system. Middle management is rampant with some of the most incompetent people I've met in the industry and like stated in previous posts is very political. Bonus' are not competitive and don't expect a pay increase of more than 2%. There is very little opportunity for advancement outside of a call center position if that is where you started. It doesn't help that they just closed almost all of their branches. Overall I would not recommend staying at this company for my longer than a year.

Advice to Management

This is to the GMs and the DMs. You NEED to value your employees more. You're losing your most talented employees and hiring less qualified less intelligent people to talk on the phones. Do you see the problem, especially since you decided to have this be the only venue for investors? Your hiring people that can't even obtain their licenses. Focus more on retention of EMPLOYEES not just investors. Also if you really expect USM to work you better start loosening your pockets. How can you honestly expect an employee to do 4x the work for a $1000 pay increase?

Other Employee Reviews for T. Rowe Price

  1. Helpful (2)

    "Solid Entry or Mid Level Career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Retail Associate and Client Manager in Owings Mills, MD
    Current Employee - Retail Associate and Client Manager in Owings Mills, MD
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at T. Rowe Price full-time (More than 3 years)

    Pros

    Benefits are very nice (Insurance, Base 401k and match, year end bonus). Salary is mediocre, but benefits help bring closer to competition. There are a lot of people that work there, so it's easy to find "work friends" to make the days/weeks more tolerable. Lots of group outings. They try their best to provide additional incentives, though they tend to be lackluster (Recognition program, random free lunches, raffles) in the form of gift cards, and they are taxed which is understandable yet tacky. RIS (entry level) was pretty bad, but as long as you aren't an idiot you can get promoted pretty quickly, especially recently. PSG is more skill intensive, challenging, and satisfying. PSG also has a much more appropriate salary (though a parrot could be an average RIS associate, so it's understandable).

    Campus is great, parking is amazing, and commute isn't bad. There are plenty of restaurants in the area and the commute isn't terrible.

    Training program was great, continuing education is decent. Every once in awhile they have interesting road shows where important people (CEO, Portfolio Managers, etc) present.

    Overall I would recommend the job, especially for somebody moving into the area or just graduating college and need something solid to put on your resume. Don't expect to get anywhere substantial for at least 2 years unless you graduated from an Ivy League school. There are double MBAs with CFAs working for 50 grand. It's also not required that you have a business degree to get hired into RIS or PSC, and once you're in the company, degree doesn't matter at all.

    Cons

    There are very limited opportunities from RIS, one of the better would be PSG. It is very hard to get promoted from PSG to somewhere worthwhile, even if you are a "superstar." RIS management micromanages and has a very corporate mentality; there is very little opportunity for productive thought. Management tends to be former RIS representatives that have been in the job for a long time and weren't good enough to get better jobs, so settled for management. They also tend to get big heads about how important they actually are.

    Days get very monotonous and bad clients can easily ruin days. It can be very stressful when clients have unrealistic goals or expectations. Management is also very cut and dry, so logical exceptions to policy are rarely made.

    Recognition is given on a quarterly basis, but rarely recognizes appropriate employees. The winners of Associate of the Quarter, et al tend to be representatives that management like rather than those that consistently maintain high standards. I've also heard that management tends not to give a representative an award more than once, though I think that is counter intuitive.

    They have ridiculous rules for promotion. You could be the best and smartest person on the floor, but still have to go through the normal promotion (1 year in your current role, rarely get out of RDS without putting in at least 2 years in various departments).

    Advice to Management

    Have stricter expectations for employees. There are a lot of duds (especially in lower to middle management). On the opposite end of the spectrum, acknowledge those that are actually good at their jobs. Increasing salary a tad would be helpful, especially for the phone groups since they really take a mental beating.


  2. Helpful (1)

    "no opportunity for quick growth"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Service Associate in Baltimore, MD
    Current Employee - Service Associate in Baltimore, MD
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at T. Rowe Price full-time (More than a year)

    Pros

    401k match, employee stock, good 1st job

    Cons

    no effort made to recognize or cultivate talent among young employees

    Advice to Management

    develop programs to help young associates further their careers

There are newer employer reviews for T. Rowe Price
There are newer employer reviews for T. Rowe Price

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